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Rick Owns and Operates His Own UPS Shipping Store

question 33

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Rick owns and operates his own UPS shipping store. He has licensed the right to use UPS's business systems.Rick's shipping store is a:


Definitions:

Bond

A share interest in the indebtedness of a corporation; often used synonymously with “debenture,” though a bond is normally secured against specific assets, while a debenture is likely not.

Borrow Funds

Refers to obtaining money from another party, usually a financial institution, under the agreement that the money will be repaid, typically with interest.

Accumulating Debt

The process of increasing debt through borrowing or the accumulation of interest on existing loans.

Corporation

A business organization that is a separate legal entity from its owners, the shareholders.

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